Figure Technology Solutions (NASDAQ:FIGR) Stock Price Expected to Rise, Piper Sandler Analyst Says

Figure Technology Solutions (NASDAQ:FIGR) had its price target increased by analysts at Piper Sandler from $55.00 to $75.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s target price would suggest a potential upside of 33.17% from the stock’s previous close.

A number of other brokerages have also commented on FIGR. Zacks Research raised Figure Technology Solutions from a “hold” rating to a “strong-buy” rating in a report on Friday, January 2nd. Needham & Company LLC reiterated a “buy” rating and set a $51.00 price target on shares of Figure Technology Solutions in a report on Monday, November 17th. The Goldman Sachs Group raised their price objective on Figure Technology Solutions from $51.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday. Keefe, Bruyette & Woods upped their target price on shares of Figure Technology Solutions from $52.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, January 8th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Figure Technology Solutions in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $57.63.

Figure Technology Solutions Stock Up 0.1%

Shares of FIGR opened at $56.32 on Wednesday. The stock has a fifty day moving average price of $41.39. Figure Technology Solutions has a 12-month low of $30.01 and a 12-month high of $59.40. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.17. The company has a market cap of $9.92 billion and a PE ratio of 165.65.

Figure Technology Solutions (NASDAQ:FIGR) last released its quarterly earnings data on Thursday, November 13th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.18. The business had revenue of $156.03 million for the quarter.

Insider Activity at Figure Technology Solutions

In related news, CEO Michael Benjamin Tannenbaum sold 90,026 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $35.12, for a total value of $3,161,713.12. Following the transaction, the chief executive officer directly owned 3,641,903 shares of the company’s stock, valued at approximately $127,903,633.36. The trade was a 2.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director June Ou sold 200,058 shares of the stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $39.40, for a total transaction of $7,882,285.20. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 3,344,073 shares of company stock worth $123,816,526.

Hedge Funds Weigh In On Figure Technology Solutions

Several institutional investors have recently bought and sold shares of the company. Orland Properties Ltd bought a new position in Figure Technology Solutions during the third quarter valued at $319,187,000. Vanguard Group Inc. purchased a new position in shares of Figure Technology Solutions during the 3rd quarter valued at $91,751,000. Duquesne Family Office LLC bought a new position in shares of Figure Technology Solutions during the 3rd quarter worth $76,989,000. Pantera Capital Partners LP purchased a new stake in Figure Technology Solutions in the 3rd quarter worth about $56,114,000. Finally, Capital World Investors bought a new stake in Figure Technology Solutions in the 3rd quarter valued at about $50,918,000.

About Figure Technology Solutions

Figure is building the future of capital markets using blockchain-based technology. Figure’s proprietary technology powers next-generation lending, trading and investing activities in areas such as consumer credit and digital assets. Our application of the blockchain ledger allows us to better serve our end-customers, improve speed and efficiency, and enhance standardization and liquidity. Using our technology, we continue to develop dynamic, vertically-integrated marketplaces across the approximately $2 trillion consumer credit market and the rapidly growing approximately $4 trillion cryptocurrency and digital asset market.